On June 20, 2020, Lucie Majeau invested the following assets in a new sole proprietorship: cash, $12,000; office equipment, $6,000; land, $100,000; building, $115,000. Majeau owes the bank a $25,000 note payable that is secured by the land and building. Prepare the general journal entry to record Majeau's investments in the new business.

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The Answer of On June 20, 2020, Lucie Majeau invested the following assets in a new sole proprietorship: cash, $12,000; office equipment, $6,000; land, $100,000; building, $115,000. Majeau owes the bank a $25,000 note payable that is secured by the land and building. Prepare the general journal entry to record Majeau's investments in the new business.

On June 20, 2020, Lucie Majeau Invested the Following Assets